Nation on right growth track, says Mukhriz

SINTOK: Wise financial management, no heavy borrowing overseas and acting fast in the event of an economic crisis were the keys to putting the nation’s economy on the right growth track.

Deputy International Trade and Industry Minister, Mukhriz Mahathir, said Malaysia managed to record sustainable economic growth because it did not blindly follow the views of the global economic experts.

He said the strong national economy was due to the Blue Ocean strategy and transformation programme introduced by Prime Minister Najib Tun Abdul Razak after he took over the reins of the government in 2009.

“The conducive economic environment existed because the policy and delivery system has helped overcome whatever barriers and boost the nation’s earnings.

“The ringgit peg during the economic crisis in 1998 and not borrowing from the World Bank have a positive impact on the nation’s economy,” he said.

Mukhriz said this in his address to the new students at the Universiti Utara Malaysia (UUM) last night.

Also present were UUM vice-chancellor Mustafa Ishak, academic staff and over 4,000 new students.

He said the transformation programme was launched not only to boost the earnings of the rakyat and nation but to attract foreign investments in creating new jobs and eradicating poverty.

“We do not have to worry whether the country will be bankrupt or face negative economic effects from the giving of assistance to the rakyat. The money is from wise economic management and effective tax collection.

“The government has about RM800 billion in borrowings. Of the figure, foreign borrowing is only 17 per cent. The bulk is from local financial institutions,” he said.

– Bernama

Comments

Readers are required to have a valid Facebook account to comment on this story. We welcome your opinions to allow a healthy debate. We want our readers to be responsible while commenting and to consider how their views could be received by others. Please be polite and do not use swear words or crude or sexual language or defamatory words. FMT also holds the right to remove comments that violate the letter or spirit of the general commenting rules.

The views expressed in the contents are those of our users and do not necessarily reflect the views of FMT.